Novotel

The  DJIA  surged 765 points while  Nasdaq  was up 234, the  S&P 500  rose 90 points and the 10 year treasury yield was down .15 to 3.66%. Raymond James  reported on  hotels impacted by Hurricane Ian ’s decimation of southwest Florida. While Tampa Bay dodged the bullet, Sarasota all the way down took a hit led by Naples, Fort Myers, Sanibel, Captiva, Boca Grande, Venice and Punta Gorda. Aimbridge Hospitality  announces its  international division , Interstate Hotel & Resorts has launched its new corporate identity, formally debuting as the Aimbridge EMEA division.

JLL’s Hotels & Hospitality Group’s  latest  Hotel Investor Sentiment Survey suggests hotel investment in  Asia Pacific  will continue to recover in the fourth quarter of 2022 and into 2023 with more investors looking to deploy the highest levels of capital since the pandemic started. Fortune Park Hotels , a unit of ITC Ltd ., said they are growing upwards of 20% in revenues over 2019-2020 numbers. Accor announced further expansion in India with the signing of Mercure Chandigarh Tribune Chowk , scheduled to open late 2023 and Novotel Mohali Airport Road, scheduled to open in 2026.

STR reported China hotel RevPAR the week ended September 17   fell -11.5% year over year. When compared with the same week in 2019, China hotel RevPAR was down -40.1% Despite STR reporting week after week for the past several months that China hotel RevPAR has plunged again, Trip.com said hotel reservations in China surpassed pre-pandemic levels since late June . Hyatt Hotels Corporation announced the opening of Hyatt Place Bharuch . This is the second Hyatt Place hotel in Gujarat and the sixth Hyatt Place hotel in in India.

The equity markets made a dramatic recovery considering investors in Treasuries gave the Fed a no-confidence raspberry, not liking the comments from one of the Governors today at all. Finishing touches are wrapping up on the Virgin Hotel, a 28-story tower in Midtown, Manhattan. K&K Hotel Group is planning to build a new Hampton Inn & Suites in Shenandoah, TX.